Director/PDMR Shareholding
M&G plc NEWS RELEASE
28 March 2024
M&G plc
Notification of transactions by Persons Discharging Managerial Responsibilities ('PDMRs')
Awards under the M&G Deferred Incentive Plan 2019 ('DIP')
On 28 March 2024, the Company granted deferred bonus short-term incentive ('STI') awards to the PDMRs set out below, under the DIP. The DIP awards granted represent a deferred proportion of the PDMRs' annual STI, granted as conditional awards over shares which are due to vest in March 2027. The DIP awards have been made using the average market share price for the three days preceding the award date, of £2.362.
Awards under the M&G Performance Share Plan 2019 (the 'PSP')
On 28 March 2024, the Company granted nil-cost option PSP awards to the PDMRs set out below, under the PSP. The PSP awards granted are subject to the achievement of performance conditions over a three-year period (with the exception of the award made to Louise Gelling to which performance conditions do not apply). A subsequent two year holding period applies to the PSP awards with the exception of the award made to Ms. Gelling. The PSP awards have been made using the average market share price for the three days preceding the award date, of £2.362.
Awards summary table
The below table summarises the above transactions for each PDMR:
|
Name |
Number of shares awarded as conditional awards under the DIP |
Number of shares awarded as nil-cost options under the PSP |
|
Clive Bolton |
22,342 |
285,774 |
|
Caroline Connellan |
33,085 |
317,527 |
|
Louise Gelling |
43,558 |
110,956 |
|
Charlotte Heiss |
43,790 |
254,022 |
|
Matt Howells |
101,228 |
313,717 |
|
Benoît Macé |
86,544 |
264,182 |
|
Kathryn McLeland |
220,723 |
574,407 |
|
Joseph Pinto |
156,789 |
495,342 |
|
Andrea Rossi |
369,986 |
963,166 |
|
Louise Shield |
39,462 |
254,022 |
Vest of award under the PSP for Louise Gelling
On 28 March 2024, a nil-cost option share award granted on 1 April 2022 to Ms. Gelling vested but has not yet been released.
The notification below, which has been made in accordance with the requirements of the Market Abuse Regulation, provides further detail.
Contact
Christopher Smyth, Director of Secretariat - 020 8162 0527
Sharna Ludlow, Head of Share Plans and Share Registration - 020 8162 0611
|
1 |
Details of the person discharging managerial responsibilities / person closely associated |
||||||||||
|
a) |
Name |
Clive Bolton |
|||||||||
|
2 |
Reason for the notification |
||||||||||
|
a) |
Position/status |
Chief Executive Officer, M&G Life |
|||||||||
|
b) |
Initial notification/Amendment |
Initial notification |
|||||||||
|
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
||||||||||
|
a) |
Name |
M&G plc |
|||||||||
|
b) |
LEI |
254900TWUJUQ44TQJY84 |
|||||||||
|
4 |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted |
||||||||||
|
a) |
Description of the financial instrument, type of instrument
Identification code |
Ordinary shares of 5 pence each
|
|||||||||
|
b) |
Nature of the transaction |
a. Award granted under the DIP to vest and be released in March 2027 b. Award granted under the PSP due to vest in March 2027, subject to the achievement of performance conditions, with a subsequent two year holding period until 2029
|
|||||||||
|
c) |
Price(s) and volume(s) |
|
|||||||||
|
|
Aggregated information
-Aggregated volume
-Price |
308,116
£2.362 |
|||||||||
|
|
Date of the transaction |
2024-03-28 |
|||||||||
|
|
Place of the transaction |
Outside a trading venue |
|||||||||
|
1 |
Details of the person discharging managerial responsibilities / person closely associated |
||||||||||
|
a) |
Name |
Caroline Connellan |
|||||||||
|
2 |
Reason for the notification |
||||||||||
|
a) |
Position/status |
Chief Executive, M&G Wealth |
|||||||||
|
b) |
Initial notification/Amendment |
Initial notification |
|||||||||
|
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
||||||||||
|
a) |
Name |
M&G plc |
|||||||||
|
b) |
LEI |
254900TWUJUQ44TQJY84 |
|||||||||
|
4 |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted |
||||||||||
|
a) |
Description of the financial instrument, type of instrument
Identification code |
Ordinary shares of 5 pence each
|
|||||||||
|
b) |
Nature of the transaction |
a. Award granted under the DIP to vest and be released in March 2027 b. Award granted under the PSP due to vest in March 2027, subject to the achievement of performance conditions, with a subsequent two year holding period until 2029
|
|||||||||
|
c) |
Price(s) and volume(s) |
|
|||||||||
|
|
Aggregated information
-Aggregated volume
-Price |
350,612
£2.362 |
|||||||||
|
|
Date of the transaction |
2024-03-28 |
|||||||||
|
|
Place of the transaction |
Outside a trading venue |
|||||||||
|
1 |
Details of the person discharging managerial responsibilities / person closely associated |
||||||||||
|
a) |
Name |
Louise Gelling |
|||||||||
|
2 |
Reason for the notification |
||||||||||
|
a) |
Position/status |
Interim Group Chief Risk and Compliance Officer |
|||||||||
|
b) |
Initial notification/Amendment |
Initial notification |
|||||||||
|
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
||||||||||
|
a) |
Name |
M&G plc |
|||||||||
|
b) |
LEI |
254900TWUJUQ44TQJY84 |
|||||||||
|
4 |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted |
||||||||||
|
a) |
Description of the financial instrument, type of instrument
Identification code |
Ordinary shares of 5 pence each
|
|||||||||
|
b) |
Nature of the transaction |
a. Award granted under the DIP to vest and be released in March 2027 b. Award granted under the PSP due to vest in March 2027
|
|||||||||
|
c) |
Price(s) and volume(s) |
|
|||||||||
|
|
Aggregated information
-Aggregated volume
-Price |
154,514
£2.362 |
|||||||||
|
|
Date of the transaction |
2024-03-28 |
|||||||||
|
|
Place of the transaction |
Outside a trading venue |
|||||||||
|
4 |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted |
||||||||||
|
a) |
Description of the financial instrument, type of instrument
Identification code |
Ordinary shares of 5 pence each
|
|||||||||
|
b) |
Nature of the transaction |
a. Vesting of nil-cost options under the PSP |
|||||||||
|
c) |
Price(s) and volume(s) |
|
|||||||||
|
|
Aggregated information
-Aggregated volume
-Price |
76,104
Nil |
|||||||||
|
|
Date of the transaction |
2024-03-28 |
|||||||||
|
|
Place of the transaction |
Outside a trading venue |
|||||||||
|
|
|
|
|||||||||
|
1 |
Details of the person discharging managerial responsibilities / person closely associated |
||||||||||
|
a) |
Name |
Charlotte Heiss |
|||||||||
|
2 |
Reason for the notification |
||||||||||
|
a) |
Position/status |
Group General Counsel & Company Secretary |
|||||||||
|
b) |
Initial notification/Amendment |
Initial notification |
|||||||||
|
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
||||||||||
|
a) |
Name |
M&G plc |
|||||||||
|
b) |
LEI |
254900TWUJUQ44TQJY84 |
|||||||||
|
4 |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted |
||||||||||
|
a) |
Description of the financial instrument, type of instrument
Identification code |
Ordinary shares of 5 pence each
|
|||||||||
|
b) |
Nature of the transaction |
a. Award granted under the DIP to vest and be released in March 2027 b. Award granted under the PSP due to vest in March 2027, subject to the achievement of performance conditions, with a subsequent two year holding period until 2029
|
|||||||||
|
c) |
Price(s) and volume(s) |
|
|||||||||
|
|
Aggregated information
-Aggregated volume
-Price |
297,812
£2.362 |
|||||||||
|
|
Date of the transaction |
2024-03-28 |
|||||||||
|
|
Place of the transaction |
Outside a trading venue |
|||||||||
|
1 |
Details of the person discharging managerial responsibilities / person closely associated |
||||||||||
|
a) |
Name |
Matt Howells |
|||||||||
|
2 |
Reason for the notification |
||||||||||
|
a) |
Position/status |
Chief People Officer |
|||||||||
|
b) |
Initial notification/Amendment |
Initial notification |
|||||||||
|
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
||||||||||
|
a) |
Name |
M&G plc |
|||||||||
|
b) |
LEI |
254900TWUJUQ44TQJY84 |
|||||||||
|
4 |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted |
||||||||||
|
a) |
Description of the financial instrument, type of instrument
Identification code |
Ordinary shares of 5 pence each
|
|||||||||
|
b) |
Nature of the transaction |
a. Award granted under the DIP to vest and be released in March 2027 b. Award granted under the PSP due to vest in March 2027, subject to the achievement of performance conditions, with a subsequent two year holding period until 2029
|
|||||||||
|
c) |
Price(s) and volume(s) |
|
|||||||||
|
|
Aggregated information
-Aggregated volume
-Price |
414,945
£2.362 |
|||||||||
|
|
Date of the transaction |
2024-03-28 |
|||||||||
|
|
Place of the transaction |
Outside a trading venue |
|||||||||
|
1 |
Details of the person discharging managerial responsibilities / person closely associated |
||||||||||
|
a) |
Name |
Benoît Macé |
|||||||||
|
2 |
Reason for the notification |
||||||||||
|
a) |
Position/status |
Chief Strategy and Transformation Officer |
|||||||||
|
b) |
Initial notification/Amendment |
Initial notification |
|||||||||
|
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
||||||||||
|
a) |
Name |
M&G plc |
|||||||||
|
b) |
LEI |
254900TWUJUQ44TQJY84 |
|||||||||
|
4 |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted |
||||||||||
|
a) |
Description of the financial instrument, type of instrument
Identification code |
Ordinary shares of 5 pence each
|
|||||||||
|
b) |
Nature of the transaction |
a. Award granted under the DIP to vest and be released in March 2027 b. Award granted under the PSP due to vest in March 2027, subject to the achievement of performance conditions, with a subsequent two year holding period until 2029
|
|||||||||
|
c) |
Price(s) and volume(s) |
|
|||||||||
|
|
Aggregated information
-Aggregated volume
-Price |
350,726
£2.362 |
|||||||||
|
|
Date of the transaction |
2024-03-28 |
|||||||||
|
|
Place of the transaction |
Outside a trading venue |
|||||||||
|
1 |
Details of the person discharging managerial responsibilities / person closely associated |
||||||||||
|
a) |
Name |
Kathryn McLeland |
|||||||||
|
2 |
Reason for the notification |
||||||||||
|
a) |
Position/status |
Chief Financial Officer |
|||||||||
|
b) |
Initial notification/Amendment |
Initial notification |
|||||||||
|
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
||||||||||
|
a) |
Name |
M&G plc |
|||||||||
|
b) |
LEI |
254900TWUJUQ44TQJY84 |
|||||||||
|
4 |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted |
||||||||||
|
a) |
Description of the financial instrument, type of instrument
Identification code |
Ordinary shares of 5 pence each
|
|||||||||
|
b) |
Nature of the transaction |
a. Award granted under the DIP to vest and be released in March 2027 b. Award granted under the PSP due to vest in March 2027, subject to the achievement of performance conditions, with a subsequent two year holding period until 2029
|
|||||||||
|
c) |
Price(s) and volume(s) |
|
|||||||||
|
|
Aggregated information
-Aggregated volume
-Price |
795,130
£2.362 |
|||||||||
|
|
Date of the transaction |
2024-03-28 |
|||||||||
|
|
Place of the transaction |
Outside a trading venue |
|||||||||
|
1 |
Details of the person discharging managerial responsibilities / person closely associated |
||||||||||
|
a) |
Name |
Joseph Pinto |
|||||||||
|
2 |
Reason for the notification |
||||||||||
|
a) |
Position/status |
Chief Executive, Asset Management |
|||||||||
|
b) |
Initial notification/Amendment |
Initial notification |
|||||||||
|
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
||||||||||
|
a) |
Name |
M&G plc |
|||||||||
|
b) |
LEI |
254900TWUJUQ44TQJY84 |
|||||||||
|
4 |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted |
||||||||||
|
a) |
Description of the financial instrument, type of instrument
Identification code |
Ordinary shares of 5 pence each
|
|||||||||
|
b) |
Nature of the transaction |
a. Award granted under the DIP to vest and be released in March 2027 b. Award granted under the PSP due to vest in March 2027, subject to the achievement of performance conditions, with a subsequent two year holding period until 2029
|
|||||||||
|
c) |
Price(s) and volume(s) |
|
|||||||||
|
|
Aggregated information
-Aggregated volume
-Price |
652,131
£2.362 |
|||||||||
|
|
Date of the transaction |
2024-03-28 |
|||||||||
|
|
Place of the transaction |
Outside a trading venue |
|||||||||
|
1 |
Details of the person discharging managerial responsibilities / person closely associated |
||||||||||
|
a) |
Name |
Andrea Rossi |
|||||||||
|
2 |
Reason for the notification |
||||||||||
|
a) |
Position/status |
Chief Executive Officer |
|||||||||
|
b) |
Initial notification/Amendment |
Initial notification |
|||||||||
|
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
||||||||||
|
a) |
Name |
M&G plc |
|||||||||
|
b) |
LEI |
254900TWUJUQ44TQJY84 |
|||||||||
|
4 |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted |
||||||||||
|
a) |
Description of the financial instrument, type of instrument
Identification code |
Ordinary shares of 5 pence each
|
|||||||||
|
b) |
Nature of the transaction |
a. Award granted under the DIP to vest and be released in March 2027 b. Award granted under the PSP due to vest in March 2027, subject to the achievement of performance conditions, with a subsequent two year holding period until 2029
|
|||||||||
|
c) |
Price(s) and volume(s) |
|
|||||||||
|
|
Aggregated information
-Aggregated volume
-Price |
1,333,152
£2.362 |
|||||||||
|
|
Date of the transaction |
20243-03-28 |
|||||||||
|
|
Place of the transaction |
Outside a trading venue |
|||||||||
|
1 |
Details of the person discharging managerial responsibilities / person closely associated |
||||||||||
|
a) |
Name |
Louise Shield |
|||||||||
|
2 |
Reason for the notification |
||||||||||
|
a) |
Position/status |
Corporate Affairs Director |
|||||||||
|
b) |
Initial notification/Amendment |
Initial notification |
|||||||||
|
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
||||||||||
|
a) |
Name |
M&G plc |
|||||||||
|
b) |
LEI |
254900TWUJUQ44TQJY84 |
|||||||||
|
4 |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted |
||||||||||
|
a) |
Description of the financial instrument, type of instrument
Identification code |
Ordinary shares of 5 pence each
|
|||||||||
|
b) |
Nature of the transaction |
a. Award granted under the DIP to vest and be released in March 2027 b. Award granted under the PSP due to vest in March 2027, subject to the achievement of performance conditions, with a subsequent two year holding period until 2029
|
|||||||||
|
c) |
Price(s) and volume(s) |
|
|||||||||
|
|
Aggregated information
-Aggregated volume
-Price |
293,484
£2.362 |
|||||||||
|
|
Date of the transaction |
2024-03-28 |
|||||||||
|
|
Place of the transaction |
Outside a trading venue |
|||||||||
LEI: 254900TWUJUQ44TQJY84
Classification: 2.2 Information disclosed under article 19 of the Market Abuse Regulation.
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